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- q= 2015 – 90p+p3 for O£ PE 40 q is the number of copres of the game that they caneypect to sell Cn thousants of cans) and pis the price of the game m dollors ) Find a prce elastiaity of demant queston Rrom this demant equatio n lallit E) *5kip this b> what wauk the pnce clasticity of demand that con be cxpcctcet if the gare 15 Sold for $ 25? s the demcind elastrc or melastic at this price? C.) what prce should the gane be sold at to get unit elasttcity of dnand? d) what quantity of games snoud be sot to get marmum revenue?what are the reason/s of banning McDonald’s from other country’s?Que stLon a Suppose thot ot Roma Masheta piice q PiodoGA tell from mso to Mus, whle quantity demonded (ose trom H to S-Lihewise, the pice of product Bfell tsom Maa to Mis, while the quontitsp demend rose trom 14 to 16. ) Colculate he price elasticity a demord q pioduct A a ènterpret it. b) You ore a chairperson of a govern ment tax Commission responsible tor establikhong a program to raive new rouonue through Consumer ta Xes. Based On the respoo se in al above, would you recomment that product A be Considered in the Comsumer tax porkage EXPlain. 9 Calculote cross elasticaty of demond, Eob. OAre Pioduct A and product B Complements or Substitutes? Exploir
- Refer to the figure below: A P 16 11 8. 100 150 225 300 350 Quantity If the price is $16, the resulting O shortage will lead to a fall in price. O surplus will lead to a fall in price. O shortage will lead to a rise in price. O surplus wil Icad to a risc in pricc. を %241. Cikli is the manager of a per month from product Y. The price elasticity c original quantity (Q) fo respectively and the cro product X and Y is 1.1. I 1%. toantalan bargg pern a. How much will Cikli's b. How much is Cikli'sne c. Plot a graph for produc the before and after changHow will each of tbe pollowing demand Supplyaffecti eqpilbrius and "equilibium queatity Lompetitive narketi Supply and demand diagsams and feice in Also se to ansuer. ) Demand inereaser and Suply is Constant
- Demand is inelasic over partiularpricechange range if a. the change in price causes no change in total revenue O b. the change in pric cuses oal revenue to change in he same direction O c the change in prce causes oalrevenueto change in the oposie drecion O d. Tick queston: Demand is never inelasic over any pric-change range.Creative Homework/Short Project Assume that you arean entrepreneur who runs a bakery that sells glutenfree breads and cakes. You believe that the currenteconomic conditions merit an increase in the price ofyour baked goods. You are concerned, however, thatincreasing the price might not be profitable becauseyou are unsure of the price elasticity of demand for yourproducts. Develop a plan for the measurement of priceelasticity of demand for your products. What findingswould lead you to increase the price? What findingswould cause you to rethink the decision to increaseprices? Develop a presentation for your class outlining(1) the concept of elasticity of demand, (2) why raisingprices without understanding the elasticity would bea bad move, (3) your recommendations for measurement, and (4) the potential impact on profits for elasticand inelastic demandTaiwan is a major world supplier of semiconductor chips. A recent earthquake severely damagedthe production facilities of Taiwanese chip-producing companies, sharply reducing the amount of chipsthey could produce.a. Assume that the total revenue of a typical non-Taiwanese chip manufacturer rises due to theseevents. In terms of an elasticity, what must be true for this to happen? Illustrate the change in totalrevenue with a diagram, indicating the price effect and the quantity effect of the Taiwan earthquake onthis company’s total revenue.b. Now assume that the total revenue of a typical non-Taiwanese chip manufacturer falls due to theseevents. In terms of an elasticity, what must be true for this to happen? Illustrate the change in totalrevenue with a diagram, indicating the price effect and the quantity effect of the Taiwan earthquake onthis company’s total revenue.
- Why do many Carmex product prices end in 9?What type of pricing is this called? What shouldhappen to demand when this approach is used?OOK rink erences Aruna owns Pottery Plus, a small firm that produces terra cotta pots for sale in the Edmonton area. The graph below shows Aruna's demand curve. Mc Graw Hill Price ($) 40 36 32 28 24 20 16 12 8 4 0 4 8 12 16 20 24 28 32 36 40 Quantity per periodCreative Homework/Short Project Assume that you arean entrepreneur who runs a bakery that sells glutenfree breads and cakes. You believe that the currenteconomic conditions merit an increase in the price ofyour baked goods. You are concerned. however, thatincreasing the price might not be profitable becauseyou are unsure of the price elasticity of demand for yourproducts. Develop a plan for the measurement of priceelasticity of demand for your products. What findingswould lead you to increase the price? What findingswould cause you to rethink the decision to increaseprices? Develop a presentation for your class outlining(I) the concept of elasticity of demand, (2) why raisingprices without undetstanding the elasticity would bea bad move. (3) your recommendations for measurement. and (4) the potential impact on profits for elasticand inelastic demand